Sellas Life Sciences and Galena Biopharma plan merger

14 August 2017

Galena Biopharma (Nasdaq: GALE) and Sellas Life Sciences Group, a privately-held Swiss/Greek oncology-focused company, have entered into an all stock definitive merger agreement under which Sellas will merge into and become an indirect, wholly-owned subsidiary of Galena.

The combined company will be renamed Sellas Life Science Group Inc. The merger will result in a combined company focused on the development of novel treatments for cancer.

On January 31, 2017, Galena announced the initiation of a process to explore a range of strategic alternatives focused on maximizing shareholder value. After a thorough review of available alternatives, and extensive diligence and negotiation with Sellas, Galena’s board of directors unanimously approved to enter into a definitive merger agreement with Sellas.

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